Shinhan Media is an unlisted small and medium-sized advertising company. If we use the media company's price-to-earnings ratio of 15 to 20 times and assume that Shinhan Media's profit in 2001 was US$1 million, then Shinhan Media's highest valuation is US$20 million.

Song Yi currently holds 10% of Shinhan Media's shares, so the value of Song Yi's shares is 2 million US dollars.

If Song Yi follows Song Yuxi's suggestion and borrows 2 million US dollars through his friend in the bank, although there is no problem from the procedure, in fact, Song Yi has taken the initiative to leave Song Yuxi with evidence of an illegal transaction.

If Song Yuxi and Song Yi can get along well, then the evidence will not be needed. But if Song Yuxi and Song Yi break up one day, then Song Yuxi can use this loan to send Song Yi to jail for a few years.

First of all, a price-to-earnings ratio of 15 to 20 times is usually a reasonable valuation given by investment institutions to large listed media companies such as Daiichi Media.

Shinhan Media is just an unlisted small and medium-sized advertising company with a PE valuation of 7 to 10 times at most.

According to Song Yi's estimate, the profit of New Korea Media in 2001 was between 1 million and 1.5 million US dollars. So 10 million US dollars is the reasonable valuation of New Korea Media, and the value of Song Yi's shares is 1 million US dollars.

Moreover, the fact that your shares are worth $1 million does not mean that you can borrow $1 million from the bank. Banks usually give a 50% discount for pledged shares of private companies.

So after the bank evaluated Song Yi's shares in Shinhan Media, the apartment in Ziyang-dong, and the Mercedes-Benz, there was no problem in lending Song Yi $500,000.

Of course, Song Yi has a way to increase his loan limit. If he pledges the shares of Yanjing Xinhan Advertising Company to Hana Bank, Hana Bank can increase the loan limit, but Song Yi is unwilling to do so.

For Song Yi, Shinhan Advertising is his backing and a guarantee for the Song family. If something happens to Song Yi in Korea, at least he can leave some money for his parents and Liao Yu and her daughter, so that they can have a comfortable life for the rest of their lives.

Song Yi certainly wanted to borrow more money from the bank. With $500,000, he could make a profit of $1 million from the B-share market. If his start-up capital became $2 million, Song Yi could make a profit of at least $5 million.

What does $5 million mean in 2001? In January 2000, when Li Yanhong returned to China with the patent of "hyperlink analysis" to establish Baidu, he only had $1.2 million from venture capital. Of course, nine months later, Baidu raised a second round of venture capital of $10 million. Of course, Li Yanhong's technical strength and Silicon Valley background were the key to his entrepreneurial success. Baidu's development path before listing was smooth sailing.

With this $5 million, Song Yi can not only obtain the mainland agency rights for Wemade's online game "Legend", but he can also create an Internet company. After all, the Internet markets in mainland China and South Korea are both in the ascendant. Of course, Song Yi cannot directly reject Song Yuxi's suggestion. If Song Yi does not take out this $2 million loan, he will not be able to get a ticket to the Korean power circle.

"Okay, Councillor Song, I will contact your friend immediately after I finish my tea and come back." Song Yi promised.

Song Yuxi nodded with satisfaction. The advantage of talking to smart people is that you don’t have to waste time talking.

After finishing the business, Song Yuxi started to talk about family matters. "Actually, Mr. Song and I are actually from the same family. According to my family tree, my origin is the Song family in Gwangju, and my ancestral home is the Song family in Pujiang, China. My ancestors served as high officials in the Joseon Dynasty, and finally they spread their branches in Gwangju."

Song Yi smiled secretly in his heart. Song Yuxi's lover was from a wealthy family in the village. His father-in-law's family actually looked down on Song Yuxi, who came from a peasant family. It was not until Song Yuxi passed the judicial examination and became a judge that their attitude changed.

Therefore, Song Yuxi was always concerned about his background, so he announced to the outside world that he came from a prominent family, and he always wanted to go to Pujiang to pay homage to his ancestors.

Song Yi knew this, of course, and pretended to be very surprised, "Really? That's really a coincidence, our family is also a branch of the Pujiang Song family, and there is a family tree to prove that we are descendants of Song Lian, a great scholar in the Ming Dynasty. When I was a child, I was very proud when I recited the text "Preface to Sending Off Ma Sheng of Dongyang"."

When Song Yuxi heard this, he immediately became interested, and Song Yi immediately introduced to Song Yuxi the genealogy of the Pujiang Song family and the living conditions of each branch.

Song Yi said that Song Lian was implicated in the Hu Weiyong case in the early Ming Dynasty and was nearly executed. In the end, Crown Prince Zhu Biao pleaded for him and exiled him to Maozhou. Through simple research, Song Yi said that the Song Yuxi branch should be the one that Song Lian was exiled to Maozhou. In order to avoid court disputes, his descendants finally moved to Gwangju on the Korean Peninsula. This is the origin of the Gwangju Song family.

Song Yuxi was very happy when he heard this. He rubbed his palms with excitement and said, "So, Director Song is my relative in China. I didn't expect that Director Song is so young and knows our history so well."

Song Yi certainly would not give up such an opportunity to get closer to her. "My father is a professor of history at Byeonju University and was a visiting scholar at Yonsei University in the 1980s."

Song Yuxi was secretly pleased by Song Yi's flattery. "You're right. Since we are all relatives, it would be too strange to call you Director Song. Song Yi, what year was your father born?"

"My father was born in 1946." Song Yi replied.

Song Yuxi was very happy, "He is the same age as me. Your father can raise such an outstanding son like you. It is indeed a family tradition."

"I have a son named Jianhao. Next time you come to my house, I will introduce you to each other. You are about the same age, so you should be able to get along well. You don't have to call me Councillor Song, just call me Uncle Song." Song Yuxi took the initiative to offer.

When Song Yi heard Song Yuxi say this, he followed suit and said, "Okay, Uncle Song."

Song Woo-seok and his wife Jeon Sook-liang have a son, Song Jianhao. Song Woo-seok was later exposed for taking bribes.

Song Woo-seok's lover and nephew-in-law were exposed to have received 6 million US dollars from a businessman named Park in two installments. The media said that Song Woo-seok's son Song Jianhao was also involved, and later Song Jianhao lived in China for a long time.

Song Yi became alert, thinking that he might make a mistake when Song Yuxi introduced Song Jianhao to him.

Song Yuxi and Song Yi established an uncle-nephew relationship. Song Yi's purpose of visiting Song Yuxi today had been achieved, and he tactfully said goodbye to Song Yuxi.

Song Yi drove back to the apartment. As soon as he got home, he called Song Yuxi's friend in the bank.

As soon as the call was connected, a deep voice came from the other end, "Hello, I'm Li Zaiyong, who are you?"

Song Yi checked the phone number and made sure he had dialed the right number. "Hello, I'm Song Yi from New Korea Media."

There was silence on the other end of the line for a while. Perhaps someone reminded him, he immediately became enthusiastic, "It's Director Song, hello, hello!"

"I would like to apply for a loan of 2 million US dollars from your bank, using my shares in Shinhan Media as collateral. When do you think it would be convenient for me to submit my application materials?" Song Yi asked.

Lee Jae-yong was very happy, "No problem, anytime is fine, just come to my bank with the materials." Lee Jae-yong reported his work location and working hours.

After Song Yi simply wrote down the address and bank name with a pen, he smiled. Coincidentally, the bank where Lee Jae-yong worked was the Korea Exchange Bank.

Lee Jae-yong obviously holds a high position in the Korea Exchange Bank. I wonder if Song Yi will meet Vice President Li Jiangyun when he goes to do business?

Song Yi knew that the inside story of Longxing Fund's successful purchase of a majority stake in Korea Exchange Bank was not that simple, but he didn't know what role Lee Jae-yong played in the Longxing case. Song Yi considered whether to invite Song Hye-kyo out for dinner alone and let Li Jiangyun know through Song Hye-kyo. If Vice President Li Jiangyun came forward to stop Song Yi from applying for a $2 million loan, saying that his materials did not meet the qualifications, Song Yuxi couldn't blame him, right?

I don't have any recommendations this week. I hope everyone can vote enthusiastically so that I can rank higher on the urban category new book list and increase my exposure. Thank you very much. There will be another chapter later.

(End of this chapter)